Dublin, Nov. 05, 2019 (GLOBE NEWSWIRE) -- The "Cardiac Monitoring & Cardiac Rhythm Management Devices Market CM (ECG, ILR, Event Monitors, MCT), CRM (Defibrillator (ICD (CRT D), External Defibrillators (AED)), Pacemaker (CRT P, Dual Chamber Pacemaker)), End User (Hospitals) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The cardiac monitoring and cardiac rhythm management devices market is projected to reach USD 25.05 billion by 2024 from USD 20.67 billion in 2019, at a CAGR of 3.9%.
The CM & CRM devices market comprises major players such as Medtronic (Ireland), Boston Scientific (US), Abbott Laboratories (US), GE Healthcare (US), BIOTRONIK (Germany), Hill-Rom Holdings (US), and Koninklijke Philips (Netherlands). The study includes an in-depth competitive analysis of these key players in the CM & CRM devices market, along with their company profiles, recent developments, and key market strategies.
Increasing prevalence of CVD to drive the growth of this market
Growth in this market is primarily driven by the increasing incidence of cardiovascular diseases; technological advancements; increasing investments, funds, and grants for research on CM & CRM devices; and the growing preference for wearable cardiac devices. However, the dearth of skilled professionals and frequent product recalls are expected to challenge market growth in the coming years
ILRs are expected to grow at the highest CAGR during the forecast period
Based on type, the CM devices market is segmented into ECG devices, ILR, MCT, event monitors, COM devices, and smart ECG monitors. Of these, ILRs are expected to grow at the highest CAGR during the forecast period. The advantages of ILRs are a higher rate of diagnosis of heart rhythm problems than external recorders, long-term monitoring of up to three years, large storage capacity, remote monitoring, and detection & reduction of recurrent syncopes. Owing to their benefits, the demand for these devices is expected to increase across the globe
The defibrillators segment is expected to grow at the highest CAGR during the forecast period
Based on type, the CRM devices market is segmented into defibrillators and pacemakers. The defibrillators segment is expected to grow at the highest CAGR in the forecast period. Technological advancements in defibrillators, rising prevalence of CVDs, and the growing focus on providing public-access defibrillators are some of the major factors expected to propel the growth of this market.
The ambulatory surgical centers segment is expected to grow at the highest CAGR during the forecast period
The ambulatory surgical centers segment is expected to grow at the highest CAGR in the forecast period. Growing number of ASCs and physicians are realizing the benefits of performing cardiovascular procedures at ASCs, thus attributing to its high CAGR during the forecast period.
APAC to grow at the highest CAGR during the forecast period
In the CM & CRM devices market, the APAC market, particularly in China, Japan, India, and the Association of Southeast Asian Nations (ASEAN) countries, is expected to witness the highest growth in the next five years. This is due to the rising prevalence of CVDs in APAC countries, attributed to the increasing adoption of sedentary lifestyles, changing diets, increasing stress, and habitual smoking and drinking.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Cardiac Monitoring and Cardiac Rhythm Management Devices: Market Overview
4.2 Asia-Pacific: Cardiac Monitoring and Cardiac Rhythm Management Devices Market Share, By End User & Country (2018)
4.3 Cardiac Rhythm Management Devices Market, By Type (2017-2024)
4.4 Geographic Snapshot of The Cardiac Monitoring and Cardiac Rhythm Management Devices Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics: Drivers, Restraints, and Challenges
5.2.1 Drivers
5.2.1.1 Increasing Incidence of Cardiovascular Disease
5.2.1.2 Technological Advancements
5.2.1.3 Increasing Investments, Funds, and Grants for Research on CM & CRM Devices
5.2.1.4 Growing Preference for Wearable Cardiac Devices
5.2.2 Restraints
5.2.2.1 Increasing Incidence of Cied Infections
5.2.3 Challenges
5.2.3.1 Dearth of Skilled Professionals With Expertise in Electrocardiography and Cardiac Rhythm Management Devices
5.2.3.2 Frequent Product Recalls
6 Cardiac Monitoring Devices Market, By Type
6.1 Introduction
6.2 Ecg Devices
6.2.1 Resting Ecg Devices
6.2.1.1 Low Cost, Ease of Use, and Simplicity Have Driven The Adoption of Resting Ecg Devices
6.2.2 Stress Ecg Devices
6.2.2.1 Flexibility in Use has Driven The Demand for Stress Ecg Devices, But High Cost has Negatively Affected The Market
6.2.3 Holter Monitors
6.2.3.1 Short Duration of Monitoring is A Key Restraint to Market Growth
6.3 Implantable Loop Recorders
6.3.1 High Cost and Limited Applications Have Hindered Demand Growth
6.4 Mobile Cardiac Telemetry Devices
6.4.1 Increasing Demand for Cardiac Monitoring Solutions in Home Care Settings is Propelling Market Growth
6.5 Cardiac Output Monitoring Devices
6.5.1 Increasing Number of Cardiac Surgeries Will Drive The Demand for Com Devices
6.6 Event Monitors
6.6.1 Event Monitors Market, By Type
6.6.1.1 Pre-Symptom Event Monitors
6.6.1.1.1 Large Storage Capacity of Pre-Symptom Event Monitors Makes Them Ideal for Long-Term Monitoring
6.6.1.2 Post-Symptom Event Monitors
6.6.1.2.1 Emergence of Handheld, Wireless, and Remote Monitors Will Drive Market Growth
6.6.2 Event Monitors Market, By Technology
6.6.2.1 Autodetect Monitors
6.6.2.1.1 Autodetect Monitors are Ideal for Patients Who are Unable to Reliably Trigger Monitors
6.6.2.2 Manual Event Monitors
6.6.2.2.1 Manual Monitors Can Be Pre-Symptom Or Post-Symptom, But Rely on The Patient to Be Triggered
6.7 Smart Ecg Monitors
6.7.1 Lack of Data Security Hinders The Growth of The Smart Monitors Market to Some Extent
7 Cardiac Rhythm Management Devices Market, By Type
7.1 Introduction
7.2 Defibrillators
7.2.1 Implantable Cardioverter Defibrillators
7.2.1.1 Transvenous Implantable Cardioverter Defibrillators (T-Icds)
7.2.1.1.1 Biventricular Implantable Cardioverter Defibrillators/Cardiac Resynchronization Therapy Defibrillators
7.2.1.1.1.1 Biventricular Icds/Crt-Ds are Preferred for Heart Failure Patients
7.2.1.1.2 Dual-Chamber Implantable Cardioverter Defibrillators
7.2.1.1.2.1 Benefits of Dual-Chamber Icds, Such as Higher Diagnostic Accuracy, Make Them Ideal for Patients With Tachycardia Episodes
7.2.1.1.3 Single-Chamber Implantable Cardioverter Defibrillators
7.2.1.1.3.1 Launch of Mri-Compatible Single-Chamber Icds Will Drive Market Growth
7.2.1.2 Subcutaneous Implantable Cardioverter Defibrillators
7.2.1.2.1 Safety and Efficacy of S-Icds in The Prevention of Sudden Cardiac Arrest Will Boost Their Adoption
7.2.2 External Defibrillators
7.2.2.1 Automated External Defibrillators
7.2.2.1.1 Semi-Automated External Defibrillators
7.2.2.1.1.1 Semi-Automated External Defibrillators Accounted for The Largest Share of The Aeds Market in 2018
7.2.2.1.2 Fully Automated External Defibrillators
7.2.2.1.2.1 Benefits of Fully Automatic Aeds and Higher Accuracy Will Drive Market Growth
7.2.2.2 Manual External Defibrillators
7.2.2.2.1 North America Dominates The Manual Defibrillators Market
7.2.2.3 Wearable Cardioverter Defibrillators
7.2.2.3.1 Ease of Use and The Noninvasive Nature of Wearable Cardioverter Defibrillators Will Support Market Growth
7.3 Pacemakers
7.3.1 Pacemakers Market, By Implantability
7.3.1.1 Implantable Pacemakers
7.3.1.1.1 Introduction of Leadless and Mri-Safe Devices has Boosted Device Popularity
7.3.1.2 External Pacemakers
7.3.1.2.1 Increasing Number of Open-Heart Surgeries Will Drive The Demand for External Pacemakers
7.3.2 Pacemakers Market, By Type
7.3.2.1 Dual-Chamber Pacemakers
7.3.2.1.1 Dual-Chamber Pacemakers are The Most Commonly Implanted Pacemakers for Bradycardia - A Key Factor Driving Market Growth
7.3.2.2 Single-Chamber Pacemakers
7.3.2.2.1 Introduction of Leadless Pacemakers Will Stimulate Demand in This Product Segment
7.3.2.3 Biventricular/Crt Pacemakers
7.3.2.3.1 High Cost and Unfavorable Reimbursement Scenario Have Hindered Market Growth
8 Cardiac Monitoring and Cardiac Rhythm Management Devices Market, By End User
8.1 Introduction
8.2 Hospitals, Clinics, & Cardiac Centers
8.2.1 Growing Number of Cardiac Implant Procedures to Drive Market Growth
8.3 Ambulatory Surgery Centers
8.3.1 Growing Number of Ascs in The US to Drive The Adoption of CM & CRM Devices
8.4 Other End Users
9 Cardiac Monitoring and Cardiac Rhythm Management Devices Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Growing Number of Fda Approvals for CM & CRM Devices to Support Market Growth in The US
9.2.2 Canada
9.2.2.1 Growing Focus of Government and Private Organizations on Providing Funding for Research to Drive Market Growth
9.3 Europe
9.3.1 Germany
9.3.1.1 Increasing Healthcare Expenditure to Drive Market Growth
9.3.2 France
9.3.2.1 Rising Prevalence of Heart Failure to Drive The Adoption of Crt Devices in France
9.3.3 UK
9.3.3.1 Rising Demand for Home-Based Cardiac Monitoring Devices to Support Market Growth
9.3.4 Italy
9.3.4.1 Increasing Incidence of Atrial Fibrillation Among The Elderly Will Drive Market Growth in Italy
9.3.5 Spain
9.3.5.1 Rising Awareness and Growing Device Adoption Indicate Strong Growth in The Coming Years
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.1.1 High Healthcare Expenditure and Favorable Reimbursement and Insurance Coverage to Support Market Growth in Japan
9.4.2 China
9.4.2.1 Rising Prevalence of Cvds and Government Support for Infrastructural Improvements Will Drive Market Growth
9.4.3 India
9.4.3.1 Government Initiatives Will Propel Market Growth in India
9.4.4 Rest of Asia Pacific
9.5 Rest of The World
10 Competitive Landscape
10.1 Overview
10.2 Market Share Analysis, 2018
10.3 Competitive Scenario
10.3.1 Contracts, Partnerships, & Agreements (2016-2019)
10.3.2 Product Launches & Approvals (2016-2019)
10.3.3 Expansions (2016-2019)
10.3.4 Acquisitions (2016-2019)
10.4 Competitive Leadership Mapping (2019)
10.4.1 Vendor Inclusion Criteria
10.4.2 Visionary Leaders
10.4.3 Dynamic Differentiators
10.4.4 Emerging Companies
11 Company Profiles
11.1 Abbott Laboratories
11.2 Medtronic PLC
11.3 Boston Scientific Corporation
11.4 GE Healthcare
11.5 Koninklijke Philips N.V.
11.6 Biotronik
11.7 Asahi Kasei Corporation
11.8 Microport Scientific Corporation
11.9 Hill-Rom Holdings
11.10 Nihon Kohden Corporation
11.11 Schiller
11.12 Biotelemetry
11.13 ACS Diagnostics
11.14 BPL Medical Technologies
11.15 BTL
11.16 Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
11.17 Lepu Medical Technology
11.18 Shree Pacetronix
11.19 Osypka AG
11.20 Alivecor Inc.
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